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Quicken Loans agrees to $32.5 million settlement in federal home loan fraudulence lawsuit

Quicken Loans agrees to $32.5 million settlement in federal home loan fraudulence lawsuit

CLEVELAND, Ohio — Quicken Loans has consented to spend $32.5 million to be in a lawsuit that is years-old that the Justice Department accused the bank of home loan fraud.

The settlement, established Friday by a court-appointed mediator, includes no admissions of wrongdoing because of the company that is detroit-based. It stops litigation filed four years back, for which Quicken Loans had installed an aggressive protection.

The Justice Department filed a False Claims Act suit against Quicken Loans in 2015. The us government stated the business approved loans that will have now been rejected.